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Daily Newsletter, Friday, 08/17/2001

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PremierInvestor.net Newsletter          Weekend Edition 08-17-2001
                                                    section 1 of 3
Copyright  2001, All rights reserved.
Redistribution in any form is strictly prohibited.

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In section one:

Market Wrap: A week of internal weakening
Market Sentiment: Ursus Liberalis
Play-of-the-Day: PACCAR Inc. - PCAR (Bearish)
Watch List: Are You Bullish or Bearish? 

------------------------------------------------------------------
U.S. Market Numbers
------------------------------------------------------------------
MARKET WRAP  (view in courier font for table alignment)
------------------------------------------------------------------
        WE 8-17          WE 8-10           WE 8-3          WE 7-27
DOW    10240.78 -175.47 10416.25 - 96.53 10512.78 + 96.11  -159.98
Nasdaq  1867.01 - 89.24  1956.47 -109.86  2066.33 + 36.60  +   .36
S&P-100  593.87 - 17.54   611.41 - 12.24   623.65 +  3.39  -  5.33
S&P-500 1161.97 - 28.19  1190.16 - 24.19  1214.35 +  8.42  -  4.92
W5000  10760.09 -234.36 10994.45 -248.49 11242.94 + 76.94  - 46.37
RUT      475.65 +   .13   475.52 - 11.63   487.15 +  2.13  -  2.91
TRAN    2824.65 - 36.12  2860.77 - 53.25  2914.02 +  4.14  - 55.78
VIX       26.74 +  3.93    22.81 +   .42    22.39 -  2.34  -   .24
VXN       52.02 +  3.50    48.52
TRIN       2.67 +  1.64     1.03
TICK        201
Put/Call   1.07              .72              .76              .47
------------------------------------------------------------------

===========
Market Wrap
===========

A week of internal weakening by Jeff Bailey

Last Friday's action now looks to have been the first sign of 
internal suffering for the markets as the NASDAQ-100 Bullish 
Percent ($BPNDX) reversed back into "bear confirmed" status with 
just 42% of the point and figure charts showing a "buy signal."  
As of yesterday's close, that number had dropped to 30% and 
today's action probably isn't going to show any improvement.

NASDAQ-100 Bullish Percent - 2% box



Thursday's close showed just 30% of the stocks in the NASDAQ-100 
on point and figure buy signals.  It's interesting to note that 
last Friday's action had this indicator reversing course and into 
a column of O's at 42%, but early this week the NASDAQ-100 Trust 
(QQQ) actually rallied on Monday and early Tuesday morning.  
While the patient was up running around in a "euphoric" state, 
the guts of that patient were in turmoil.  Eventually, the 
internals had the patient seemingly losing consciousness.  The 
good doctor that monitored the internals may have avoided that 
"sucker rally" as the internals had reverted back into "bear 
confirmed" status.  With the NASDAQ-100 bullish percent now 
nearing the "oversold" level near 30%, traders that are short/put 
some big tech stocks should be lowering their stops should we get 
a similar snapback rally like we saw earlier in the week.  I'd 
equate this market environment (Nasdaq-100) to that of a patient 
out cold on the operating table and about to go flat line.  At 
some point, there's a catalyst that presents itself like a set of 
"defibulator paddles" and shocks the patient back into rally 
mode.

Subscribers will note that the play list on PremierInvestor.net 
is practicing what it preaches.  When a trade gets more than a 5-
10% gain, we're raising stops on bullish plays and lowering stops 
on bearish plays.

S&P-100 Bullish Percent Chart - 2% box



AMGN, CSCO, INTC, MEDI, MSFT, ORCL and NXTL share commonality 
between the NASDAQ-100 and the S&P-100.  There are 93 other 
stocks that don't.  Traders/investors will note how the bullish 
percent chart above (bullish % for S&P-100) is less volatile and 
actually lags the NASDAQ-100 bullish percent.  Thursday's trading 
had the indicator reversing into a column of O's and back into 
"bull correction" status.  A reading of 36% would have this 
market (S&P 100) in "bear confirmed" status.  

By putting the two together and understanding the makeup, the 
trader/investor makes the observation that yesterday's snap back 
rally was just short covering.  With very little bullish money 
coming into the stock markets, the short covering stopped and the 
progression lower continued.

Lower YIELD good for stocks myth

To be able to make the statement "With very little bullish money 
coming into the stock markets" I look no further than the bond 
market.  Traders that still believe a lower bond YIELD is good 
for stocks are getting a bitter taste of how wrong that thought 
process has been.  Since reaching a recent peak of 5.9%, MARKET 
participants have been buying bonds like there is no tomorrow and 
driving YIELD lower.  The 30-year Treasury bond is considered the 
most "risky" of the US Government Treasuries (30-years time is a 
lot of risk).  It's frightening to think that the MARKET loves 
this bond so much to buy a YIELD of 5.422% when many stocks are 
50-60-70-80% off their highs.

30-year Treasury Bond YIELD - last 9 months



The YIELD on the 30-year dipped to its lowest level since late 
March.  This should have traders and investors wondering what 
kind of money is buying stocks and propping them up at this 
point?  I haven't heard of massive inflows into stock funds in 
recent months.  Perhaps all this is propping up stock prices are 
bearish traders buying back some shorts.

As it relates to the YIELD on the 30-year Treasury, I'd want to 
see a YIELD above our 61.8% retracement bracket level and bond 
YIELD of 5.475% before I begin thinking that any type of recovery 
for stocks is anything but short covering.  With very little new 
money coming into the markets, any money that is going to find 
stocks from the bull side is going to have to come from the bond 
market.  A fund manager that didn't like Intel (NASDAQ:INTC) at 
$31 may have opted for the 30-year YIELD at 5.5%.  Now Intel 
(INTC) has fallen to $28 (down roughly 9%) and his/her 30-year 
bond has appreciated in price.  At some point, a stock like Intel 
will offer favorable risk/reward compared to the YIELD on the 30-
year.  It's when we see the reversal in bond YIELDS that we begin 
to think some money is beginning to shift back toward stocks.

I've set an alert on my 30-year YIELD chart at both the 5.47% 
YIELD and down at 5.35% to alert me to some levels that may 
triggers some buy/sell programs in bonds and perhaps stocks.  I'm 
using these as alerts to wake me up out of hibernation and alert 
me to a potential turning point for stocks.

Right now, YIELDS are in a nasty downward trend and stocks sure 
seem to be following.  The more shorter-term internals like the 
NASDAQ-100 and S&P-100 bullish percent charts show internal 
weakness.  The tells us that past support levels are being 
overcome by selling as supply outstrips demand.  

For equity bulls that only buy stocks, don't go to sleep.  You 
should be building a list of stocks that are trading against the 
broader market and are not creating sell signals on their point 
and figure charts.  These are the stocks where demand is still in 
control and sponsorship remains strong.  When the MARKET gets its 
"defibulator shock treatment" the stocks that have held up and 
shown good relative strength vs the broader market will most 
likely be next rounds winners.

Have a great weekend!

Jeff 

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=========================
Market Sentiment
=========================

Ursus Liberalis by Jeffrey Canavan

I should have known something was up when a bear was spotted two 
blocks from my Denver office on Monday.  Apparently a spring 
frost has killed off the berries and acorns necessary for bears 
to fatten up for their winter hibernation, and they have ventured 
into urban areas in search of food.  According to the Colorado 
Division of Wildlife, "This is an active time for bears."  
Hmmmmmm.

East coast bears ventured onto Wall Street to feed on shares of 
Ford.  The company announced they would cut 5,000 jobs, and miss 
their full-year earnings estimates.  When the feeding frenzy 
ended, Ford stock was 7.54 percent lighter.

Microsoft also provided some bear fodder after a federal appeals 
court refused to delay the start of the software giant's 
antitrust case.  Throw in Dell's poor outlook, and it was just 
too much for bullish traders to handle on a summer Friday.  Even 
an improvement in consumer sentiment couldn't stop the slide.

Nasdaq Composite Daily Chart



The Nasdaq tried to hold above support at 1890, but finished the 
day 23 points below.  Now we get to play the game of where's 
support, and much like the game of Where's Waldo, you have to 
look hard to find it. Support could be the April 12th and 16th 
lows that the Nasdaq closed at today.  Or perhaps it's the nice 
round number of 1,800, or just below the gap that formed on April 
10th at 1,757.  When I have to look that hard to find it, it's 
hard to put a lot of faith in it.  Let's call support 1800ish.

Dow Jones Industrial Daily Chart



Then we have the Dow where support abounds.  The industrials were 
able to climb high enough off their lows today to get back above 
the 50% retracement at 10,236.  Below there we have a series of 
lows that could support at drop down to 10,120.  Then we have 
61.8% retracement at 9,970, or more likely the psychological 
10,000 level.  Just to reiterate the fact that the Dow has held 
up better than the Nasdaq lately, I've place a relative strength 
comparison of the Dow and Nasdaq at the bottom of the chart.  
From May to July it's been a draw, but the Dow has gained the 
upper hand in August.  Unfortunately that just means the Dow 
could fall less than the Nasdaq.  Should the Nasdaq continue to 
slide, the Dow will be dragged down with it.

Next week Alan Greenspan will attempt to tame any bears with a 
25cc, or perhaps 50cc, tranquilizer dart, but will it have any 
affect?  While the economy may still be in need of some infusion, 
Wall Street appears to have grown numb to rate cuts, and now 
wants to see results.  As was the mantra during earning's season, 
it's not how the numbers come in, but what they say about the 
future.  Investors do not want to hear, "the risks would seem to 
remain mostly tilted toward weakness in the economy."

If that's the tone that comes out of the Fed meeting, sellers 
should continue to have the upper hand.  Buyers are relying on an 
oversold market that is due for a bounce, but could they could be 
waiting for a while.   The bear that was roaming around Denver 
was shot with four tranquilizer darts, but still managed to 
scamper through yards and jump fences before finally succumbing 
to the drugs.  The bear that is approaching Wall Street will need 
to be injected with some positive economic news and good earnings 
to sustain anything more than a bullish bounce.  Unfortunately, 
we don't have a lot of darts to throw at it next week, other than 
the Fed.

Before I leave the safety of my office and venture into the bear 
infested parking lot, I leave you with some stats from Trim Tabs.


Year to date inflows into equity funds -      $36 billion
Year to date inflows into savings accounts - $210 billion

-----------------------------------------------------------------

Market Volatility

VIX   26.74
VXN   52.02

-----------------------------------------------------------------

          Put/Call Ratio  Call Volume   Put Volume
Total          1.07        707,510       759,709
Equity Only     .96        625,699       601,738
OEX            1.62         38,351        62,176
QQQ            1.16         43,667        50,599

3 of the four put/call ratios are overly bearish, but options did 
expire on Friday.

-----------------------------------------------------------------

Bullish Percent Data

           Current   Change   Status
NYSE          34       -      Bear Confirmed
NASDAQ-100    25     -15      Bear Confirmed
DOW           36       -      Bull Alert
S&P 500       54       -      Bull Confirmed  
S&P 100       40      -6      Bull Correction  

Readings above 70 are considered overbought, and readings below 
30 are considered oversold.

Bull Confirmed  - Aggressively long
Bull Alert      - Cautiously long
Bull Correction - pause or pullback in upward trend
Bear Alert      - Take defensive action if long
Bear Confirmed  - High risk if long, good conditions for shorting
Bear Correction - Pause or rebound in downtrend

-----------------------------------------------------------------


 5-Day Arms Index  1.52
10-Day Arms Index  1.66
21-Day Arms Index  1.41
55-Day Arms Index  1.29

Extreme readings above 1.5 are bullish, and readings below .85 
are bearish.  These signals don't occur often and tend be early, 
but when the do, they can signal significant market turning 
points.

-----------------------------------------------------------------

        Advancers     Decliners
NYSE      1145           1914
NASDAQ    1221           2382

        New Highs      New Lows
NYSE      161             59
NASDAQ     90            138

        Volume (in billions)
NYSE      .978
NASDAQ   1.297

-----------------------------------------------------------------

Advisory Sentiment 

Bullish  Bearish  Correction   Net   Change 
  46.0%    27.0%     27.0%    19.0%   +0.4%

A bearish reading of 25% to 30%, combined with a bullish reading 
greater than 55% is typically considered bearish by contrairians.  
A net percentage greater than 30% is also viewed as bearish. 

-----------------------------------------------------------------

Commitments Of Traders Report: 08/14/01
Weekly COT report discloses positions held by small specs
and commercial traders of index futures contracts at the 
Chicago Mercantile Exchange and Chicago Board of Trade. COT data 
can be found at www.cftc.gov.

Small specs are the general trading public with commercials being 
financial institutions. Commercials are historically on the 
correct side of future trend changes while small specs tend 
to be wrong.  

S&P 500
No significant changes (refer to graph at the bottom of the page).  
Since this is the most heavily traded contract, it tends to carry 
the most weight.

Commercials   Long      Short      Net     % Of OI 
7/31/01      335,532   409,352   (73,820)   ( 9.91%)
8/07/01      331,881   406,210   (74,329)   (10.07%)
8/14/01      337,327   411,504   (74,177)   ( 9.91%)

Most bearish reading of the year: (111,956) - 3/6/01
Most bullish reading of the year: ( 41,144) - 5/1/01

Small Traders Long      Short      Net     % of OI
7/31/01      129,648     54,552   75,096     40.77%
8/07/01      128,454     53,191   75,263     41.43%
8/14/01      130,432     55,750   74,682     40.11%

Most bearish reading of the year:  36,513 - 5/01/01
Most bullish reading of the year:  91,122 - 3/06/01
 
NASDAQ-100
The net bearish position of commercial traders continues to 
improve.  Breaking the 7,000 level would be even better.
 
Commercials   Long      Short      Net     % of OI 
7/31/01       28,009     39,613   (11,604)  (17.16%)
8/07/01       28,867     38,956   (10,089)  (14.88%)
8/14/01       29,909     37,822   ( 7,913)  (11.68%)

Most bearish reading of the year: (15,521) - 3/13/01
Most bullish reading of the year:  (1,825) - 1/02/01

Small Traders  Long     Short      Net     % of OI
7/31/01       11,216     8,938    2,278      11.30%
8/07/01        9,715     8,098    1,617       9.08%
8/14/01       11,165     9,508    1,657       8.02%

Most bearish reading of the year:  (1,028) - 1/02/01
Most bullish reading of the year:   8,460  - 3/13/01

DOW JONES INDUSTRIAL
Commercial are slowly adding more long positions, and improving 
their net bullish stance.

Commercials   Long      Short      Net     % of OI
7/31/01       17,748    13,669    4,079     13.0% 
8/07/01       18,644    13,733    4,911     15.2%
8/14/01       21,652    15,856    5,796     15.5%

Most bearish reading of the year: (8,322) - 1/16/01
Most bullish reading of the year:  8,925  - 5/22/01

Small Traders  Long      Short     Net     % of OI
7/31/01        5,049     9,079    (4,030)   (28.52%)
8/07/01        4,841     9,909    (5,068)   (34.36%)
8/14/01        4,441     8,528    (4,087)   (31.51%)

Most bearish reading of the year:  (7,572) - 5/08/01
Most bullish reading of the year:   1,909  - 1/16/01

Graphs of Commercial Net Positions




----------------------------------------------------------------- 


=========================
Play-of-the-Day (Bearish)
=========================

PACCAR Inc. - PCAR Close:$55.46 Change:-3.32 Stop:$59.00

We like this play so much it is doing double duty as Play of the Day 
and new Bearish selection for our Stock Bottom section.

Company Description:
PACCAR is the world's second largest truck manufacturer behind 
Freightliner.  It builds trucks big and small under the Kenworth, 
Peterbilt, DAF, Leyland DAF and Foden monikers.  Its subsidiaries 
offer leasing and financing services.
   
Fundamentals: 
In the first six-months of the year, net income dipped 71-percent 
to $83.8 million on a 32-percent drop in revenue to $3.02 billion. 
 Analysts expect per share earnings in 2001 to fall to $2.02 from 
$5.56 in 2002.  The company cited the weak US economy, higher 
operating costs for truckers and an oversupply of used vehicles for 
the reduced sales.

Why We Like It: 
As if the short-term outlook for Paccar weren't gloomy enough, the 
earnings warning from Ford have ignited a bear attack.  The shares 
dropped a whopping -3.32 on Friday pushing it through support at 
$55.86 and the 50-day moving average at $55.61.  July was a generally 
bullish month for auto shares.  PCAR ran from $51.26 to a high of 
$65.05 on July 17th.  Although the stock has given back much of 
these gains, there is still a lot of air underneath them.  A further 
move south should not meet significant resistance until near $50.  
Two attractive entry points may present themselves on Monday.  Either 
look for a morning bargain hunters rally to sweeten the pot or any 
move underneath the $55.46 close. We will start this play with a 
$59 stop, which is just above Friday's $58.75 session high.

Picked on August 17th at $55.46
Earnings Date              7/25 (Confirmed)





==========
Watch List
==========

-----------------------------
-- BULLISH STOCKS TO WATCH --
-----------------------------

The Profit Recovery Group - PGRX - close: 13.75 change: +1.05

WHAT TO WATCH:  With a name like that the NASDAQ should make this
stock their new mascot.  Especially if you consider that the stock
has almost doubled from its mid-May trading levels of $7.  The last
few days shares have been climbing steadily higher on extremely
strong volume.  Technically, the $13 mark was a strong victory for
the bulls but unfortunately, The $14 area could prove tougher.  
Looking back over a year ago, near July 25th, 2000, the stock 
suffered a hefty gap down and the top edge of that gap is near
$14.  Keep an eye on this one as bullish moves on strong volume 
are normally what you want to see.




---

Comverse Technology - CMVT - close: 29.85 change: +0.34

WHAT TO WATCH:  Two upgrades in two days tends to help a stock's
share price.  It doesn't hurt that the stock is making gains in
the face of a market sell-off either.  Friday morning Merrill 
Lynch upgraded CMVT to an accumulate from a neutral while the day 
before Goldman Sachs upgraded the stock to a market outperformer
and set a $39 price target.  Well duh!  $39 is major resistance
after the stock gapped down in mid-July from $39 to open at $26
the next day.  Our potential trigger event to consider a long
play is a close over resistance at $30.




---

NVIDIA Corp. - NVDA - close: 83.74 change: -5.83

WHAT TO WATCH:  If you've been keeping up on the news, NVDA 
announced their earnings a couple of days ago and the results
were positive.  In addition to their earnings, the company 
raised guidance for the next two years.  Talk about bucking 
the trend...most companies nowadays are avoiding guidance or
retracting previous guidance.  The icing on the cake was a
2:1 stock split to take place on Sept. 11th.  Prospects for NVDA
look great and we want to take part in any split run up.  We'll
be looking for any bounces between $82 and strong support at $80
as our potential trigger to go long the stock.




---

Nokia - NOK - close: 17.08 change: -1.38

WHAT TO WATCH:  We put this one at the bottom of the bullish list
because shares could really go either way.  However, we are 
hoping they reverse course in the near future.  The stock is 
obviously oversold but shares have managed to close just over 
strong support near $17 (see mid-July).  This appears to be a 
good place to make a bet that shares may be at a bottom.  The
bad news is picking bottoms can be unhealthy for your portfolio -
especially a stock like NOK because as an ADR shares tend to gap
up or down every day.  This tends to make stops rather hard to
place.  Thus, we chose to put NOK on the watch list again.  Look
for another consolidation at $17 and then a positive close over 
$18 as a potential bullish reversal.






-----------------------------
-- BEARISH STOCKS TO WATCH --
-----------------------------


Sabre Holdings Corp. - TSG - close: 45.34 change: -1.67

WHAT TO WATCH:  It's been a rocky road from a $30 share price back
in October of 2000 to a 52-week high near $55 this summer.  Since 
then the stock has been creating a pattern of lower highs which 
turned into a rout this last week after falling almost 10%.  The 
Internet travel business has become more and more cutthroat and 
this could be affecting TSG's share price.  We would consider a 
potential short play if shares broke down and closed below support 
of its 200-dma or $44.75.  




---

Broadcom Corp. - BRCM - close: 37.06 change: -4.13

WHAT TO WATCH:  Friday ended a painful week for Broadcom.  Monday
looked promising with a move up to 45.37 but by Thursday shares
had already traded under $40 before closing at $41.19.  Then 
Thursday evening Scientific-Atlanta, a manufacturer of digital
set-top boxes warned that business was suffering and forecasts
for 2002 were in jeopardy.  How does this apply to BRCM?  BRCM 
happens to make chips for set-top boxes and thus its own profit 
forecasts are immediately suspect of weakness.  We're going to 
keep an eye on this stock for any failed rallies at $40.  More
nimble and aggressive traders can attempt to chase the stock.




---

eBay Inc - EBAY - close: 59.00 change: -2.00

WHAT TO WATCH:  Twice we have tried to play the bounce on EBAY
when shares were hitting support at $60.  Unfortunately, the
range-bound stock price could not breakthrough resistance at $66
and the only winners were traders who could scalp the four or 
five points as the stock bounced sideways.  Looking past the 
last few weeks we can see that the bears have been slowly pushing
the stock price lower since its 52-week high of $71.29 back in
June.  The stock finally failed at the $60 support level but not
without a fight from the bulls.  Friday marks the second day in
a row below this support level.  We are highlighting EBAY on
the bearish list because the overall trend has been negative.
In spite of this the stock could easily go either direction and
our catalyst will be the overall market's influence next week.
If the stock closes back over $60 then it might fight its way
back to $65-$66.  If shares close under the 100-dma (57.50) then
we'll probably see the stock fall to $55 which is significant
support.  However, beyond that shares could see $50 if the 
NASDAQ proceeds to target its April lows.




---

American Intl Group - AIG - close: 79.21 change: -1.97

WHAT TO WATCH:  The Insurance sector has been loosing ground 
since July 19th, 2001.  AIG has felt the selling pressure but
it wasn't until Friday that shares broke down beneath strong
support at $80.  Bears are likely to target the next level of
support at $75.  If this stock fits your trading profile 
consider the close under $80 as a potential trigger to go
short.




---

Goldman Sachs - GS - close: 77.25 change: -3.85

WHAT TO WATCH:  One group that has been in the news the last
few days has been the brokerage sector.  One of the biggest
names in the group is GS.  This is another classic breakdown
of support on strong volume.  Those looking for confirmation 
should wait for a close under $77 which was the intraday low
on 11/30/00, 04/04/01, and today.  If you like the looks of
GS we recommend you also look at MWD and MER who are also 
suffering from the negative industry outlook in addition to
their own negative chart patterns.






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Do not duplicate or redistribute in any form.

PremierInvestor.net Newsletter          Weekend Edition 08-17-2001
                                                    section 2 of 3
Copyright  2001, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
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To view this email newsletter in HTML format with imbedded
charts and graphs, click here:
http://www.PremierInvestor.net/htmlemail/7130_2.asp
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In section two:

Split Trader
  New Plays: AmeriSource Health - AAS (Bullish)
  Play Updates: AHC, GD, LEN 
  Closed Plays: none

Net Bulls
  New Plays: Adobe Systems Inc. - ADBE (Bearish)
  Long-Term Play  Tyco International - TYC
  Bullish Play Updates: Integrated Silicon Sol. - ISSI
  Bearish Play Updates: PSFT, VRSN
  Closed Bullish Plays: Univ. of Phoenix - UOPX
  Closed Bearish Plays: none

Stock Bottom / Active Trader
  New Plays: PACCAR Inc. - PCAR (Bearish)
  Bullish Play Updates: NEM, PEP
  Bearish Play Updates: Ballard Power - BLDP
  Closed Bullish Plays: RailAmerica - RAIL
  Closed Bearish Play: none


=================================================================
Split Trader (ST) section
==================================================================

============
ST New Plays
============

  -------------------------
  New Split Candidate Plays
  -------------------------

AmeriSource Health - AAS Close:$59.00 Change:+1.85 Stop:$56.00

Company Description:
The Chesterbrook, Pennsylvania-based firm is the holding company 
for AmeriSource Corp., the forth-largest distributor of 
pharmaceuticals and health care products in the US (McKesson HBOC 
is the largest). AmeriSource supplies hospitals, managed care 
facilities, drugstores, nursing homes, clinics, supermarkets, and 
mass merchandisers through nearly 25 distribution facilities. The 
company also offers a variety of value-added products to enhance its 
own profitability and bolster customer loyalty. These include the 
ECHO Suite, which is a software system for ordering and inventory 
management assistance; the Family Pharmacy program, which provides 
online shopping through familypharmacy.com and helps connect 
independent and small chain drug stores to various merchandising and 
other services; and Pharmacy Healthcare Solutions, which offers 
hospital consulting aimed at improving operational efficiency.  
The federal government, which includes the Veterans Administration,
 accounts for about 20-percent of sales.   

AmeriSource has announced that it is acquiring Bergen Brunswig, a 
major drug-distributor rival. The company created by the merger will 
be called AmeriSource-Bergen.  Pending regulatory approval (expected 
sometime this summer) the combined entity will have revenues in the 
vicinity of $35 billion.  Under the terms of the agreement, which 
has been unanimously approved by both Boards of Directors, each share 
of Bergen Brunswig common stock will be converted into 0.37 share of 
AmeriSource-Bergen common stock while each share of AmeriSource 
common stock will be converted into one share of AmeriSource-Bergen 
common stock. The new Company will have approximately 103 million 
shares outstanding, with current AmeriSource shareholders owning 
approximately 51-percent of the combined company and current Bergen 
Brunswig shareholders owning about 49-percent.

Fundamentals: 
Earnings projections have not been made for the combined entity.  
However, AAS Chairman David Yost said, " This combination of two 
strong, service-oriented companies boosts our confidence that we 
can achieve a long-term earnings per share growth objective of about 
20 percent."

As a separate entity AAS is expected to earn $2.27 per share on 
sales of $13.8 billion in the fiscal year ending in September 2001.
Last year, the company earned $1.89 on sales of  $11.6 billion.  

Bergan Brunswig (BBC) is expected to earn 80-cents per share on sales 
of $20.2 billion.  Last year, BBC earned 60-cents per share on sales 
of $22.8 billion.  

Why We Like It: 
A +1.85 gain on an ugly day for the overall market compels us to 
revisit this recent play.  The bullish catalyst was a pair of 
upgrades by brokers W.R. Hambrecht and Bear Sterns.  Hambrecht 
initialed coverage with a "Buy" rating and a $75 target price saying, 
"...we believe the pending merger with Bergen Brunswig will cast the 
company as one of the largest healthcare distributors, offering 
ample opportunities to significantly improve operational efficiencies." 
 Bear Sterns raised their rating from "Attractive" to "Buy."  

As one of the most efficient players in its industry AmeriSource's 
merger with Bergan Brunswig (combined $34 billion in sales) should 
make it an aggressive competitor for industry leader McKesson HBOC 
(MCK $35.3 billion in sales).   

Friday's move up put it through resistance at $58.60 on a spike in 
trading volume to 1.9 million (average daily volume is 771k).  It 
also was an upside break to a bullish triangle pattern.  The 
combination should result in a short-term test of the $62.50 52-week 
high.  For longer-term investors, our point and figure analysis 
concurs with Hambrecht's $75 12-month target.  However, we don't 
believe it's going to take a year to reach it.  Given the present 
strength of the shares and analysts favorable opinions of the 
merger, the at hand regulatory approval of the merger should be 
sufficient to drive the shares up.  Short-term traders should 
consider our $56 stop, while long-term investors could think about 
a stop at the $54 or $50 support levels.

Picked on August 17th at $59.00
Earnings Date              7/25 (Confirmed)





===============
ST Play Updates
===============

  -----------------------
  SPLIT CANDIDATE Updates
  -----------------------

Amerada Hess - AHC - close: 77.20 change: -0.93 stop: 74.25

No doubt you heard it was an ugly day on Friday for Wall Street
and AHC was wounded in the sell-off but to a lessor extent than
many others.  Crude oil prices slipped on Friday as well which 
could have played a bigger role than the dropping Dow.  The stock
remains above what should be support at the $77/$76.50 level 
and the trend of higher lows has not yet been broken by the
market weakness.  We would not recommend any new positions until
we saw the stock make its reversal and close over $78 or $79 
again.  We leave our stop at $74.25, which is below the 200-dma
of 74.86.

Picked on August 15th @ $ 78.90
Gain since picked:      -  1.70
Earnings Date:             N/A  (not confirmed)




---

General Dynamics - GD - close: 81.71 change: -1.53 stop: 79.00

Shares of GD mirrored the Dow's decline throughout the day 
including the late day bounce.  Fortunately, the depth of the
decline was muted for GD and the intraday low was only 81.17.
Technically, $81.50 should still be called support but Friday's
action should warn you that most stocks will have a weak grasp
at best if the major indices move down in force.  As always we
strongly urge you to apply stop losses to trading positions.
On a side note, we found that shares of GD rival, NOC, were
up on Friday.  Investors should probably wait for GD to resume 
an upward trend before initiating any new positions.

Picked on August 8th @ $  83.85
Gain since picked:      -  2.14
Earnings Date:         10/17/01 (not confirmed)




---

Lennar - LEN - close: 39.59 change: -1.07 stop: 38.00

To be honest there really isn't that much to say here.  LEN still
looks attractive at this level.  Traders can jump in while shares
are recovering at the stock's 200-dma (38.84).  Friday's action
only makes for a tighter entry point.  Our view is simple.  Shares
are oversold, the company and the industry are doing fine, we can
buy at support.  With a tight stop at $38.00 we really limit our
potential losses while the stock's upside moves could be to $45
or even its 52 week high near $50.  To continue with the keep it
simple approach, we would confirm both stock and market direction
before starting any new plays.  If the Dow breaks down from here,
LEN could easily be swept along in the market turmoil.  If you're
not interested in trying to buy on a dip above 38.50 then wait
for a close over $40 again.

Picked on August 16th @ $  40.66
Gain since picked:       -  1.07
Earnings Date:          09/19/01 (not confirmed)





==================================================================
Net Bulls (NB) section
==================================================================

============
NB New Plays
============

  ----------------
  New Bearish Play
  ----------------

Adobe Systems Inc. - ADBE Close:$32.76 Change:-1.49 Stop:$35.25

Company Description:
The San Jose, CA-based company is a leader in desktop publishing 
whether the target media is paper or the Web.  Perhaps best known 
for its free Adobe Acrobat Reader product that has become the 
standard for reading paper documents posted on the Web, the company 
get almost 75-percent of sales from software products like 
PageMaker (page layout), Photoshop (photo editing) and 
Illustrator (illustration and page design).  Many view Adobe's 
new InDesign publishing product as being a "Quark-killer".  The 
company has made a dramatic turnaround from a sales drop that 
prompted an unsuccessful takeover attempt by competitor Quark. 
   
Fundamentals: 
Analysts forecast the company will earn $1.26 per share in the 
fiscal year ending November 2001 and $1.41 in 2002.  Last year, 
the firm earned $1.13 per share.

Why We Like It: 
Although compared to many of its software brethren Adobe financial 
performance in 2001 has been impressive, the current bear market is 
not discriminating in driving all tech shares lower.  After bouncing 
off of big-time resistance at $48 in late June the shares have run 
steadily lower.  On Friday, the shares began to creep past important 
downside support at $33.00.  Once clear, the next levels of support 
are the April 4th low of $29.46 and the 52-week low of $24.56 set on
March 15th.  Since there are few signs the bear market is ready to 
relent, there is little reason to think these shares won't make a 
run at these lows.  We will start this play with a stop at $35.25, 
which is just above last Wednesday's $35.04 session high.     

Picked on August 17th at $32.76
Earnings Date              9/13 (Not Confirmed)





=================
NB Long Term Play
=================

Tyco International - TYC August 17 close: $52.66 change: -0.18

Company Profile:
Tyco Int'l through its subsidiaries, designs, manufactures, & 
sells electronic components, undersea cable, disposable medical 
supplies, fire suppression and detection equipment, security 
systems and flow control products.

Fundamentals:
For the 6 months ended 3/31/01, sales rose 23% to $16.92B. 
Earnings before extraordinary items and an accounting change rose 
34% to $2.16B. Results reflect organic growth and acquisitions, 
and a $407M gain on the sale of ADT Automotive.  Analysts expect 
company earnings to rise from +$2.78 in 2001 to  +$3.43 in 2002.  
The current P/E ratio is 17.55 and the forward P/E ratio is 15.35.

Why We Like It:
There aren't too many stocks in the current market that have been 
resilient enough to hold on through recent declines in the broad 
averages.  Those that have been able to keep their valuations at a 
respectable level have done so as a result of competent 
management, diversified product mix, and the ability to cut costs.  
Tyco International is one such company.  Often compared to 
corporate behemoth GE, Tyco is well diversified across multiple 
sectors and, at current valuations poses a compelling buy.  With a 
P/E of only 17.55 compared to the industry average 27.37 and a net 
profit margin that is nearly double that of the industry average, 
Tyco could be one of the best long-term plays available right now.

Earnings Date          10/17 (Unconfirmed)





===============
NB Play Updates
===============

  -----------------------
  NB Bullish Play Updates
  -----------------------

Integrated Silicon Sol. - ISSI - cls: 14.96 chg: -0.14 stop: 13.75

Hard to believe isn't it?  Here is a semiconductor stock that has 
been making gains the last few days.  Friday was a terrible day 
for tech stocks and the semis with the SOX falling 4.7% or 27.5
points to 555.50.  Yet shares of ISSI are only down 14 cents.  To
really make things interesting, look at an intraday chart.  ISSI
was building a bullish pattern through most of the day Friday,
and managed to breakout over resistance at 15.10 late in the
afternoon before a sudden bout of selling pressure took it down
on the day.  You can tell we were encouraged by ISSI's relative
strength.  However, we still recommend caution.  Not many stocks
can fight a drowning sector for long.  Wait for a positive close
over $15.00 maybe even $15.25 before considering a long position.
Considering the overall market conditions we're going to inch up
our stop to 13.75 just to make us feel better.

Picked on August 16th @ $15.10
Gain since picked:      - 0.14
Earnings Date:             N/A  




  -----------------------
  NB Bearish Play Updates
  -----------------------

PeopleSoft - PSFT - close: 35.85 change: -2.34 stop: 38.50 *new*

We just hope PSFT can keep up...with the NASDAQ of course.  With
the tech heavy NAZ making lows we haven't seen since April the
bears are probably drooling over the prospects in PSFT.  If you
look at a chart you should notice the deep intraday low of $30
just a few weeks ago.  March lows for PSFT are worse at 17.50.
So who do you blame?  MSFT and its loss with the Justice Dept?
The GSO software index falling 3.27%?  Whomever or whatever is
sending the software sector lower it's doing a number on shares
of PSFT.  Since picking the play as a short on Aug. 7th we're
currently up about 6.5 points or over 15%.  To stay consistent 
we're going lower our stop again.  This time we're looking at
$38.50 as our new stop.  This is above the 200-dma, which should
now act as resistance and it is just above Thursday's intraday
high.  So what if you're not already short PSFT?  Do you jump in
now?  That's kind of tough to answer.  Friday's trading really
helped confirm the downtrend after Thursday's intraday reversal.
This is good if you're a bear.  Your main concern now is the 
stock's oversold condition.  Any big bounce or relief rally in the
market could spark a violent recovery in PSFT.  It may not be 
permanent but it could be painful.  Consider two options.  First,
look for a bounce in the stock and or more correctly a failed rally
at the stock's 200-dma.  Second, look for the stock to breakthrough
support of $35.  

Picked on August 7th @ $42.38
Gain since picked:     + 4.19
Earnings Date:           N/A  




---

VeriSign - VRSN - close: 46.65 change: -1.00 stop: 50.50 *new*

Looking at a chart of VRSN for the month of August and one can
see that shares have been stuck in a relatively tight downward
channel.  Right now the upper end of this channel is $48-$49
while the downward side is closer to $43.  What surprises us
is VRSN's lack of real weakness in the face of the NASDAQ's 
activity on Friday.  Confirm stock direction on Monday but if
shares buck the trend and edge higher look for a failed rally
at the top end of the channel.  We're going to lower our stop
to $50.50 and lower our potential loss.

Picked on August 14th @ $48.98
Gain since picked:      + 2.33
Earnings Date:            N/A  




  -----------------------
  NB Closed Bullish Play 
  -----------------------

Univ. of Phoenix - UOPX - close: 34.49 chg: -1.48 stop: 33.50 

We were oh so close!  Thursday night we struggled with where to
put our stop loss on this play for UOPX.  The stock had been 
making great gains and Thursday it closed right at resistance
from its overhead trendline.  Considering the stock was up so
much in the last few days we were anticipating a pullback but
wanted to protect ourselves.  The question was whether $34 was
really going to hold or not as new support.  As you can see
we put our stop at 33.50 which turned out to be the absolute
low in Friday's trading.  We still like the stock and considered
reinitiating the play but again - considering the current 
environment we're choosing a wait and see approach.

Picked on August 13th @ $33.25
Gain since picked:      + 0.25
Earnings Date:             N/A  





==================================================================
Stock Bottom / Active Trader (AT) section
==================================================================

============
AT New Plays
============

  --------------
  New Bearish Plays
  --------------

PACCAR Inc. - PCAR Close:$55.46 Change:-3.32 Stop:$59.00

We like this play so much it is doing double duty as Play of the Day 
and new Bearish selection for our Stock Bottom section.

Company Description:
PACCAR is the world's second largest truck manufacturer behind 
Freightliner.  It builds trucks big and small under the Kenworth, 
Peterbilt, DAF, Leyland DAF and Foden monikers.  Its subsidiaries 
offer leasing and financing services.
   
Fundamentals: 
In the first six-months of the year, net income dipped 71-percent 
to $83.8 million on a 32-percent drop in revenue to $3.02 billion. 
 Analysts expect per share earnings in 2001 to fall to $2.02 from 
$5.56 in 2002.  The company cited the weak US economy, higher 
operating costs for truckers and an oversupply of used vehicles for 
the reduced sales.

Why We Like It: 
As if the short-term outlook for Paccar weren't gloomy enough, the 
earnings warning from Ford have ignited a bear attack.  The shares 
dropped a whopping -3.32 on Friday pushing it through support at 
$55.86 and the 50-day moving average at $55.61.  July was a generally 
bullish month for auto shares.  PCAR ran from $51.26 to a high of 
$65.05 on July 17th.  Although the stock has given back much of 
these gains, there is still a lot of air underneath them.  A further 
move south should not meet significant resistance until near $50.  
Two attractive entry points may present themselves on Monday.  Either 
look for a morning bargain hunters rally to sweeten the pot or any 
move underneath the $55.46 close. We will start this play with a 
$59 stop, which is just above Friday's $58.75 session high.

Picked on August 17th at $55.46
Earnings Date              7/25 (Confirmed)





===============
AT Play Updates
===============

  -----------------
  Bullish Play Updates
  -----------------

Newmont Mining NEM Close:$21.48 Gain:+0.34 Stop:$20.40

Newmont gained 1.60%, but gave up a good portion of its gains in 
the last three hours of trading.  This play is all about a weak 
dollar spurring higher gold prices.  (See Friday's 1:30 Intraday 
Update for a more detailed description)

Picked on July 14th at $20.50
Gain since picked:      +0.98
Earnings Date            11/1/01 (unconfirmed)




---

Pepsi - PEP Close:$45.68 Gain:-0.27 Stop:$45.00

Pepsi lost 27 cents today, but considering the carnage it the rest 
of the market, the stock could have done worse.  Perhaps that's 
because it has been stronger than the S&P 500 on relative strength
basis since May.  The stock still remains comfortably above both 
moving averages.

On a less important side note, Pepsi is getting some free brand 
recognition for its new cherry flavored Mountain Dew.  The Code 
Red virus was named by two computer programmers who were drinking 
the soda when the discovered the virus.  The soft drink was the 
fifth most popular soft drink sold at convenience in July.

Picked on August 10th at $45.66
Gain since picked:        +0.02
Earnings Date               N/A




  -----------------
  Bearish Play Updates
  -----------------

Ballard Power - BLDP Close:$23.65 Gain:-3.45 Stop:$24.50

Ballard had another miserable day, losing 12.73 percent, thanks 
in part to a downgrade to Wedbush Morgan. We are lowering our 
stop to $24.50.  For a more detailed explanation, check out 
Friday's 1:30 Intraday Update.

Picked on August 14th at $32.02
Gain since picked:        +8.37
Earnings Date            11/16/01 (unconfirmed)





===============
AT Closed Plays
===============

  -----------------
  Closed Bullish Plays
  -----------------

RailAmerica RAIL Close:$13.01 Gain:-0.54 Stop:$12.90

Rail had been a nice docile stock that slowly moved higher.  
Today it went on a wild ride, and dipped down below our stop 
before once again closing above support at $12.90.  The 
little engine that couldn't - keep us in this play.

Picked on July 14th at $11.41
Gain since picked:      +1.49
Earnings Date            N/A





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PremierInvestor.net Newsletter         Weekend Edition 08-17-2001
                                                   Section 3 of 3
Copyright  2001, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
=================================================================
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In section three:

New Split Candidates: none

Market Watch for Week of August 20th
   - Major Earnings
   - Board of Directors Meetings
   - Upcoming Stock Splits
   - Economic Reports

Trading Ideas
  Value Plays With Bullish Signals
  Breakout to Upside (Stocks $5 to $20)
  Breakout to Upside (Stocks over $20)      
  Breakout to Downside (Stocks over $20)      
  Recently Overbought With Bearish Signals (Stocks over $20

=================================================================

==================================================
Market Watch for the week of June 25th - June 29th
==================================================

  ------------------------
  Major Earnings This Week
  ------------------------

Tick  Company               Date         EPS Est  Comment        

A     Agilent Technologies  Mon, Aug 20  -0.34    After the Close
AEOS  American Eagle Outfit Mon, Aug 20   0.21    ----- n/a -----
BCM   Canadian Imp Bank     Mon, Aug 20    N/A    ----- n/a -----
LOW   Lowe`s Companies      Mon, Aug 20    0.41   ----- n/a -----
MDT   Medtronic             Mon, Aug 20    0.27   ----- n/a -----
TOY   Toys R Us             Mon, Aug 20   -0.15   Before the Bell
WPPGY WPP Group PLC         Mon, Aug 20    1.06    ----- n/a ----

BJ    BJ`s Wholesale Club   Tue, Aug 21    0.49   ----- n/a -----
CHP   C & D Technologies    Tue, Aug 21    0.53   ----- n/a -----
ENZN  Enzon                 Tue, Aug 21    0.08   Before the Bell
INTU  Intuit                Tue, Aug 21   -0.10   After the Close
MYGN  Myriad Genetics       Tue, Aug 21   -0.10   Before the Bell
RY    Royal Bank of Canada  Tue, Aug 21    0.65   ----- n/a -----
SKS   Saks                  Tue, Aug 21   -0.29   After the Close
SMTC  Semtech               Tue, Aug 21    0.07   After the Close
SPLS  Staples               Tue, Aug 21    0.09   Before the Bell
SCMR  Sycamore Networks     Tue, Aug 21   -0.12   After the Close
TLB   Talbots               Tue, Aug 21    0.27   ----- n/a -----
TGT   Target Corporation    Tue, Aug 21    0.30   Before the Bell
Z     Venator Group         Tue, Aug 21    0.17   ----- n/a -----

BLI   Big Lots, Inc.        Wed, Aug 22   -0.04   Before the Bell
CXIPY Coflexip Stena Off.   Wed, Aug 22    0.54   After the Close
CCUR  Concurrent Computer   Wed, Aug 22   -0.02   After the Close
EV    Eaton Vance           Wed, Aug 22    0.43   Before the Bell
LANC  Lancaster             Wed, Aug 22    0.61   ----- n/a -----
ROST  Ross Stores           Wed, Aug 22    0.44   Before the Bell
SNPS  Synopsys              Wed, Aug 22    0.29   After the Close
TWE   TD Waterhouse Group   Wed, Aug 22    0.02   Before the Bell
W     Westvaco              Wed, Aug 22    0.19   ----- n/a -----

ADCT  ADC                   Thu, Aug 23   -0.06   After the Close
BKS   Barnes&Noble          Thu, Aug 23   -0.12   Before the Bell
BGP   Borders Group         Thu, Aug 23   -0.01   After the Close
BFb   Brown-Forman          Thu, Aug 23    0.57   Before the Bell
CHRS  Charming Shoppes      Thu, Aug 23    0.14   Before the Bell
ZNH   China Southern Air    Thu, Aug 23     N/A   ----- n/a -----
CLE   Claire`s Stores       Thu, Aug 23    0.02   Before the Bell
ING   ING Group NV          Thu, Aug 23     N/A   Before the Bell
IBI   Intimate Brands       Thu, Aug 23    0.12   ----- n/a -----
KM    K Mart                Thu, Aug 23    0.04   ---- n/a ------
KKD   Krispy Kreme Doughnut Thu, Aug 23    0.09   Before the Bell
LTD   Limited               Thu, Aug 23    0.08   ----- n/a -----
MBG   Mandalay Resort Grp   Thu, Aug 23    0.41   After the Close
MW    Men`s Wearhouse       Thu, Aug 23    0.25   Before the Bell
PDCO  Patterson Dental      Thu, Aug 23    0.29   Before the Bell
SSSS  Stewart & Stevenson   Thu, Aug 23    0.44   Before the Bell
SCM   Swisscom AG ADS       Thu, Aug 23     N/A   ----- n/a -----
TOL   Toll Brothers         Thu, Aug 23    1.22   Before the Bell
TD    Toronto Dominion Bank Thu, Aug 23     N/A   ----- n/a -----

PNY   Piedmont Natural Gas  Fri, Aug 24   -0.37   After the Close
WSM   Williams-Sonoma       Fri, Aug 24    0.00   Before the Bell

  ------------------------------------
  Board of Director Meetings This Week
  ------------------------------------

Symbol     Company                 Date   

ACEC       Ace*comm Corp           8/20/01
ACET       Aceto Corp              8/20/01
A          Agilent Technologies    8/20/01
BHB        Barharbor Bankshares    8/20/01
BTGL       Brocker Tech Group      8/20/01
BHP        Broken Hill Prop        8/20/01
CFCM       Chief Consolidaed Min.  8/20/01
CXSN       Counsel Corp            8/20/01
CUNO       Cuno Incorporated       8/20/01
DESI       Designs Inc             8/20/01
DMN        Dimon Inc               8/20/01
FORTY      Formula Systems         8/20/01
ALLB       Greater Del Sav Bank    8/20/01
HOTT       HOT Topic Inc           8/20/01
IAL        Inter. Aluminum         8/20/01
LOW        Lowes Comp. Inc.        8/20/01
MADB       Madison Bancshares Grp. 8/20/01
MRX        Medicis Pharm Corp      8/20/01
MDT        Medtronic Inc           8/20/01
NCH        N C H Corp              8/20/01
NASI       N. American Scientific  8/20/01
PMFG       Peerless Manu. Comp     8/20/01
PDM        Pitt-des Moines Inc     8/20/01
POWL       Powell Ind. Inc         8/20/01
RUK        Reed Intl P L C         8/20/01
RGIS       Regis Corp              8/20/01
ROP        Roper Ind. Inc          8/20/01
SHLO       Shiloh Ind. Inc         8/20/01
SOBI       Sobieski Bancorp Inc    8/20/01
FIBR       Sorrento Networks Corp  8/20/01
SPCH       Sport Chalet Inc        8/20/01
TOY        Toys R US               8/20/01
TMG        Transmontaigne Inc      8/20/01
VCO        Vina Concha Y Toro S A  8/20/01
WPPGY      WPP Group PLC           8/20/01
HAIN       Hain Celestial Grp Inc  8/20/01

---------------------------------------

BJ         B.J. Wholesale          8/21/01
BEI        Boardwalk Equities Inc  8/21/01
BWS        Brown Shoe Co Inc       8/21/01
CPY        C P I Corp              8/21/01
CLZR       Candela Corp            8/21/01
CACOA      Cato Corp               8/21/01
CSB        Ciba Spcl. Chem. Hldgs  8/21/01
DSGX       Descartes Systems, Grp  8/21/01
ENZN       Enzon Inc               8/21/01
FRED       Freds Inc               8/21/01
INTU       Intuit Inc              8/21/01
KEG        KEY Energy Serv. Inc    8/21/01
LAYN       Layne Cristensen Comp   8/21/01
LTD        Limited Inc             8/21/01
MYGN       Myriad Genetics Inc     8/21/01
PRLX       Parlex Corp             8/21/01
PDCO       Patterson Dental Comp   8/21/01
PERY       Perry Ellis Int. Inc    8/21/01
RY         Royal Bank of Canada    8/21/01
SKS        Saks Inc                8/21/01
SAFM       Sanderson Farms Inc     8/21/01
SMTC       Semtech Corp            8/21/01
SHFL       Shuffle Master Inc      8/21/01
SPLS       Staples Inc             8/21/01
SCMR       Sycamore Networks Inc   8/21/01
TLB        Talbots Inc             8/21/01
TGT        Target Corp.            8/21/01
WLSN       Wilsons the Leather Exp 8/21/01

---------------------------------------

AVE        Aventis                 8/22/01
BPUR       Biopure Corp            8/22/01
CXIPY      Coflexip                8/22/01
CCUR       Concurrent Computer     8/22/01
CYBX       Cyberonics Inc          8/22/01
DEBS       DEB Shops Inc           8/22/01
DRAM       Dataram Corp            8/22/01
EV         Eaton Vance Corp        8/22/01
EDSN       Edison Schools Inc      8/22/01
GADZ       Gadzooks Inc            8/22/01
JDEC       JD Edwards & Comp       8/22/01
LDG        Longs Drug Stores       8/22/01
NDSN       Nordson Corp            8/22/01
RESC       Roanoke Elec. Steeel    8/22/01
ROST       Ross Stores Inc         8/22/01
SNPS       Synopsys Inc            8/22/01
TWE        TD Waterhouse Grp. Inc  8/22/01
TTC        Toro Co                 8/22/01
W          Westvaco Corp           8/22/01
JWL        Whitehall Jewellers     8/22/01
BLI        Big Lot                 8/22/01

---------------------------------------

AMK        Am. Technical Ceramics  8/23/01
BGP        Borders Grp Inc Mich.   8/23/01
BFA        Brown Forman Corp       8/23/01
BFB        Brown Forman Corp       8/23/01
BF.B       Brown Forman Corp CLB   8/23/01
CHRS       Charming Shoppes Inc    8/23/01
CLE        Claires Stores Inc      8/23/01
CPWM       Cost Plus Inc           8/23/01
DDS        Dilliards Inc CLA       8/23/01
ELBO       Elec. Boutique Hldgs    8/23/01
GOT        Gottschalks Inc         8/23/01
HIBB       Hibbett Sporting Goods  8/23/01
IBI        Intimate Brands Inc     8/23/01
KM         Kmart Corp              8/23/01
MBG        Mandalay Resort Grp     8/23/01
MW         Mens Warehouse          8/23/01
PETM       Petsmart Inc            8/23/01
PCYC       Pharmacyclics           8/23/01
PVH        Phillips VAN Heusen     8/23/01
SFD        Smithfield Foods Inc    8/23/01
SSSS       Stewart & Stevenson Svc.8/23/01
SM         Sulzer Medica Ltd       8/23/01
SCM        Swisscom AG             8/23/01
TESOF      Tesco Corp              8/23/01
TOL        Toll Brothers Inc       8/23/01
TD         Toronto-dominion Bank   8/23/01
ULTE       Ultimate Electronics    8/23/01
WTSLA      WET Seal Inc            8/23/01
ZIGO       Zygo Corp               8/23/01

---------------------------------------

CRFT       Craftmade International 8/24/01
DUCK       Duckwall-alco Stores    8/24/01
LFB        Longview Fibre Co Wash  8/24/01
PNY        Piedmont NAT GAS Co N C 8/24/01
PXXI       Prophet 21 Inc          8/24/01
WSM        Williams Sonoma Inc     8/24/01


  -------------------------------
  Upcoming Stock Splits This Week
  -------------------------------

Symbol  Company Name                  Payable Date      Ratio

ALLY    Alliance Gaming               08/20/2001        2:1
DCOM    Dime Community                08/21/2001        3:2
RSLN    Roslyn Bancorp                08/22/2001        3:2


  --------------------------
  Economic Reports This Week
  --------------------------

Now that earnings season is officially "over" investors now
focus on the upcoming FOMC meeting.  The latest word on the
street is a 100% chance of a 25 basis point cut from the
Fed.  Many market pundits feel that a 50-point cut would be 
seen as very negative for the stock market.  Buyers will 
likely remain cautious as we approach "warnings" season for
the third quarter.


Date                          Forecast     Previous

Monday, 08/20/01
Leading Indicators                0.3%         0.3%


Tuesday, 08/21/01
FOMC Meeting                 25 bps cut


Wednesday, 08/22/01
 - n/a -


Thursday, 08/23/01
Initial Claims (August 18th)      N/A          380K
FOMC Minutes for June 27th


Friday, 08/24/01
Durable Orders (Jul)             -0.5%       -2.0%
New Home Sales (Jul)             910K         922K


==================
  Trading Ideas 
==================

This section contains stocks that meet criteria which may make 
them of interest to long and short side traders.  These are not 
recommendations, nor have they been reviewed by PremierInvestor 
editors for investment potential.  However, each of them has 
technical and fundamental characteristics that make them worthy 
of further review by traders and investors looking for fresh ideas. 
New stocks will appear daily following the market close.  

  ---------------------------------
  Value Plays With Bullish Signals
  ---------------------------------

Ticker    Company Name              Close  Change
DY        Dycom Industries Inc.     17.96  +0.54
SLE       Sara Lee Corp             20.20  +0.72


  ---------------------------------------
   Breakout to Upside (Stocks $5 to $20)
  ---------------------------------------

Ticker    Company Name              Close  Change
THOR      Thoratec Corp             17.64  +1.79
PRGX      Profit Recovery Group     13.75  +1.05
TDSC      3d Systems Corp           16.20  +1.20
VICL      Vical Inc                 12.41  +1.33

  ---------------------------------------
   Breakout to Upside (Stocks over $20)
  ---------------------------------------

Ticker    Company Name              Close  Change
ASW       A.C.L.N. Limited          44.00  +6.35
PHTN      Photon Dynamics           38.34  +1.34
ADVP      Advancepcs                72.22  +4.41
AAS       AmeriSource Health Corp   59.00  +1.85
VGIN      Visible Genetics          25.25  +2.40
ATK       Alliant Techsystems      105.41  +2.64

  -----------------------------------------
   Breakout to Downside (Stocks over $20)
 -------------------------------------------

Ticker    Company Name              Close  Change
GS        Goldman Sachs Group       77.25  -3.85
DELL      Dell Computers            23.00  -2.38
MMC       Marsh & McLennan Cos      95.21  -3.24
GM        General Motors            59.47  -3.10
TMX       Telefonos De Mexico       35.36  -1.14


  ------------------------------------------------------------
   Recently Overbought With Bearish Signals (Stocks over $20)
  -------------------------------------------------------------

Ticker    Company Name              Close  Change
HBC        Hsbc Holdings Plc        59.99  -0.81
TMX        Telefonos De Mexico      35.36  -1.14
RY         Royal Bank of Canada     33.72  -0.44
PNC        Pnc Financial Services   67.20  -0.28
MGA       Magna International       64.40  -2.60


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